ParkSmart Expected to Go Nonprofit

(Toledo, OH) Downtown Toledo parking is about to go non-profit. 

ParkSmart is now controlled by the port authority after an agreement with Toledo city leaders a few years ago. But three downtown parking garages and downtown curbside parking spaces are soon to be part of a nonprofit organization with its own five-member board of directors. 

The move effectively takes the Downtown Toledo Development Corporation out of the management equation so that group can focus on other development responsibilities and establishes ParkSmart as a stand-alone organization. 

ParkSmart will continue to use parking revenue to support its operation costs and contribute $100,000 from that annual parking revenue into a special downtown development fund.

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